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is the white house about avoiding the fiscal cliff?" reports suggest, in some cases, not so serious. and also, joanne, what is the strategy here, and is there a risk like looking like you're not really negotiating? >> well, you know, i think what's interesting is that there's the posture that everyone is taking in public, but then what you're hearing behind the scenes is that everyone's sort of understands what the contours of the deal are going to look like. and what i see is john boehner trying to sort of protect his caucus at this point because he probably understands that at the end of the day, that top rate is going to go up. and republicans are in a really awkward position because right now essentially they're just defending the tax cut for the top 2%. at the same time, the white house's public posture is to say well, no, we don't want to go over the fiscal cliff because you don't want to send that message to the markets. but then behind the scenes you sort of get the feeling they'd be willing to do it and they'd be okay at least
is the white house about avoiding the fiscal cliff?" reports suggest, in some cases, not so serious. and also, joanne, what is the strategy here, and is there a risk like looking like you're not really negotiating? >> well, you know, i think what's interesting is that there's the posture that everyone is taking in public, but then what you're hearing behind the scenes is that everyone's sort of understands what the contours of the deal are going to look like. and what i see is john...
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. >>> let's go to washington, now, for the latest on the fiscal cliff. just 28 days until everyone's taxes are set to go up. house republicans have now sent the white house their own plan for getting america's finances under control. but both sides still far apart. abc's jake tapper is covering this from the white house. jake, the white house downplayed this new offer but will it be enough to jump-start negotiations? >> reporter: i don't think so, george. the white house advisers describe the proposal that republicans offered yesterday, as a step backward in terms of negotiations. what the outlying house republican states is $2.2 trillion in deficit reduction. that includes 1.2 trillion in spending cuts. $800 billion in new revenue. optimistic projections. and $200 billion in other measures, such as adjusting the consumer price index. but house republicans say if the president doesn't like this, it's incumbent upon him to offer a plan that can make it through the house and the senate. >> the white house says they want to see the republicans first say tha
. >>> let's go to washington, now, for the latest on the fiscal cliff. just 28 days until everyone's taxes are set to go up. house republicans have now sent the white house their own plan for getting america's finances under control. but both sides still far apart. abc's jake tapper is covering this from the white house. jake, the white house downplayed this new offer but will it be enough to jump-start negotiations? >> reporter: i don't think so, george. the white house advisers...
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. >>> now, the stalemate in washington over the fiscal cliff. everyone's taxes are set to go up in just over a month if congress and the white house fail to reach a deal. and the talks blew up yesterday, after republicans dismissed the latest offer from secretary tim geithner. just listen to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. >> i don't understand his brain. so, you should ask him. okay? >> tough words there. abc's jon karl is covering this all from capitol hill. jon, as we said, senate republican leader mitch mcconnell says he laughed out loud at geithner's offer. break down the offer from the white house and the republican objections. >> reporter: not only did he laugh out loud, the speaker saying it's unrealistic. the key is $1.6 trillion in tax increases over the next ten years. $50 billion in additional stimulus spending. $400 billion in medicare cuts. but unspecified over the ne
. >>> now, the stalemate in washington over the fiscal cliff. everyone's taxes are set to go up in just over a month if congress and the white house fail to reach a deal. and the talks blew up yesterday, after republicans dismissed the latest offer from secretary tim geithner. just listen to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult...
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the white house is preparing for the worst if negotiations fail to avoid the fiscal cliff. >> one possibility in all of this, simply no agreement. the impact on the government and every single american taxpayer. it's thursday, december 6th. >> announcer: from abc news, this is "world news now." >>> good thursday morning. >> morning. >> i'm paula faris. we did establish morning is spelled m-e-r-n-i-n-g. >> m-e-r-n-i-n-g. nicely done. >> "merning," everybody. >> i'm rob nelson. we'll get to the discouraging situation on the fiscal cliff in just a moment. and we do have even a visual this morning. >> not yet. >> going to wait for it? very high tech. >> so high tech. working on this prop all day. all morning. >> weeks of planning. >>> we also have a major development in the case of software mogul john mcafee he was actually arrested last night. and this morning, police are taking more action after he tried to seek asylum in guatemala. a strange story gets even stranger. again he is now under arrest. >> bizarre to the nth degree there. >> yeah. >>> also this morning -- weeding through all the deta
the white house is preparing for the worst if negotiations fail to avoid the fiscal cliff. >> one possibility in all of this, simply no agreement. the impact on the government and every single american taxpayer. it's thursday, december 6th. >> announcer: from abc news, this is "world news now." >>> good thursday morning. >> morning. >> i'm paula faris. we did establish morning is spelled m-e-r-n-i-n-g. >> m-e-r-n-i-n-g. nicely done. >>...
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would cease paycheck and health benefits for members of congress and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the o
would cease paycheck and health benefits for members of congress and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not...
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fiscal cliff. but right now they're miles apart and digging in their heels. president obama told bloomberg tv a deal is possible, but -- >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: that plan sent to the white house offers a total of $2.2 trillion in deficit reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't t
fiscal cliff. but right now they're miles apart and digging in their heels. president obama told bloomberg tv a deal is possible, but -- >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: that plan sent to the white house offers a total of $2.2 trillion in deficit reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers....
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it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before a crowd of supporters, the white house invited from the mid-atlantic region, president obama put congressional republicans on notice. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is lets keep middle class taxes low. that's what our economy needs. that's what the american people deserve. gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is
it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before...
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fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington insiders tackle fiscal cliff policy solutions. the group will hold a roundtable discussion today on the importance of reform to address the nation's debt and deficit spending this event takes place this morning around 8:30 a.m. eastern time. go to our website for all our coverage of the fiscal cliff talks. we have a web site set up so you can follow along on our special page for these fiscal cliff talks. back to your phone calls. good morning, doris. caller: good morning. the plan that the republicans offered, this is just the romney-ryan plan tha
fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington...
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to ourtop story tonight, speaker boehner and house republicans are rolling out eir fiscal cliff counteroffer to the white house. includes $800 billio in new tax revenue. that is roughly half what the president was aiming for. 300 billion in dcretionary spending cuts. 900 billion in mandatory spending cuts. now the whi house responding just moments ago saying quote, the republican letter released today does not meet the test of balance. they don't like it. i'm joined by da mitch chill from the cato institute for more on this. dan what do you think. these are a lot of things to occur just in the past few hours. do you feel like ere is progress being made? >> there is progress but progress in the wrong direction. the number on thing to understand alrdy even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to
to ourtop story tonight, speaker boehner and house republicans are rolling out eir fiscal cliff counteroffer to the white house. includes $800 billio in new tax revenue. that is roughly half what the president was aiming for. 300 billion in dcretionary spending cuts. 900 billion in mandatory spending cuts. now the whi house responding just moments ago saying quote, the republican letter released today does not meet the test of balance. they don't like it. i'm joined by da mitch chill from the...
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and the fiscal cliff negotiations are not going well at all. on thursday republicans leaked the white house's opening bid and we have some exclusive tape of that. >> all right. somebody will have to play a little game. we'll play yours. so let's just say that you paid me because it is in your interest to pay me. but i want your answer and the money by noon tomorrow. >> senator, you can have my answer now, if you like. my offer is this -- nothing. >> okay. maybe that's not actually exclusive tape of the budget negotiations, but it is kind of the spirit of the thing. president obama's opening bid to the republicans goes like this. first democrats get a trillion dollars in tax revenue by letting the high-income bush tax expire. that hatch matches the spending cuts in the 2011 debt ceiling deal. a trillion for a trillion. then democrats and republicans get 6 billion worth of stuff they want. democrats get 6 billion from tax reform and republicans get 600 billion in spending cuts of which 350 billion comes from medicare and other health problems and
and the fiscal cliff negotiations are not going well at all. on thursday republicans leaked the white house's opening bid and we have some exclusive tape of that. >> all right. somebody will have to play a little game. we'll play yours. so let's just say that you paid me because it is in your interest to pay me. but i want your answer and the money by noon tomorrow. >> senator, you can have my answer now, if you like. my offer is this -- nothing. >> okay. maybe that's not...
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the president has asked the american people to put pressure on congress to accept a deal in fiscal cliff negotiations. the white house is pulling out all stops and cranking up the social media campaign. president obama has been encouraging supporters to tweet with the #my2k, explaining what a $2,000 tax increase would mean for them and their families. the white house reports the hash tag has appeared in over 275,000 tweets with twitter seeing more than 18,000 tweets per hour add its peak. the road show coupled with the social media campaign is unprecedented. this is the kind of effort that helped president obama win a second term. now we'll see if his grassroots army can convince republicans to do what's right by the american people. i'm joined tonight by democratic strategist donna gentile-o'donnell and msnbc political analyst and georgetown university professor, michael eric dyson. great to have you with us tonight. >> thank you. >> i just want to go right to this poll. this quinnipiac poll was released today, and it shows the majority of the american people want tax rates to go up for
the president has asked the american people to put pressure on congress to accept a deal in fiscal cliff negotiations. the white house is pulling out all stops and cranking up the social media campaign. president obama has been encouraging supporters to tweet with the #my2k, explaining what a $2,000 tax increase would mean for them and their families. the white house reports the hash tag has appeared in over 275,000 tweets with twitter seeing more than 18,000 tweets per hour add its peak. the...
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house with a lot more test off theosterone than the white house previously and not only the fiscal cliff but the susan rice. send her down there. send the cia down there. we are not moving and we are not going to let yougo get away with villinizing our administration a new obama going into the next 4iers. i am hoping we will see a lot more progressive reforms because of it. >> i hope you are right, too. we talked about this. something i want to get to at the top of the hour. obama has every reason right? to feel the power and exercise the power. every day -- i mean he won. okay? he won on november 6th, the popular vote the electoral vote overwhelmingly but i didn't realize there are still millions of votes still uncounted and every day, his margin keeps getting bigger and bigger and bigger. he is now a 51%, and romney is at 47%. there is something magic about the 47%. right? >> beautifully reviewed up. it's so good >> bill: the fact he ends up part of the 47%. obama, 51%. he beat romney by more than george bush beat john kerry in 2004. >> that's a solid, solid victory. he has a mandate.
house with a lot more test off theosterone than the white house previously and not only the fiscal cliff but the susan rice. send her down there. send the cia down there. we are not moving and we are not going to let yougo get away with villinizing our administration a new obama going into the next 4iers. i am hoping we will see a lot more progressive reforms because of it. >> i hope you are right, too. we talked about this. something i want to get to at the top of the hour. obama has...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this comes as the first jobs report since the election exceeded expectations. the u.s. economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the republicans right now in the house of representatives ha
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this...
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house to add vert the fiscal cliff scheduled for tomorrow, but, guess what? the president will not be attending it, secretary tim geithner will. regardless of the -show tomorrow, president obama is hopeful to get a deal done by christmas, not inspiring confidence for pushing small businesses as key democrati leaders refuse to put entitlements on the table. for more on all of this, republican congressman langford of oklahoma. congressman, welcome back, always great to have youere. >> thank y very much. gerri: president with strong words for congress. here's what he had to say. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next wreer. right now, as we speak, coness can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. gerri: there's the president calling out congress. what do you have to say, congressman? >> yeah, here we go in the middle of this. the house passed all our tax things in april. we passed the sequestering documents in may. we waited for the sena
house to add vert the fiscal cliff scheduled for tomorrow, but, guess what? the president will not be attending it, secretary tim geithner will. regardless of the -show tomorrow, president obama is hopeful to get a deal done by christmas, not inspiring confidence for pushing small businesses as key democrati leaders refuse to put entitlements on the table. for more on all of this, republican congressman langford of oklahoma. congressman, welcome back, always great to have youere. >> thank...
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i really appreciate your time. >> the fiscal cliff concession. are republicans getting redity wave the white flag of surrender? based on what you know, what do you think? plus why hamid karzai blames the u.s. for damage in that war torn country in an exclusive interview with nbc news. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay.
i really appreciate your time. >> the fiscal cliff concession. are republicans getting redity wave the white flag of surrender? based on what you know, what do you think? plus why hamid karzai blames the u.s. for damage in that war torn country in an exclusive interview with nbc news. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those...
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proposal to avert the fiscal cliff. >> i don't know much about the government. is that a good sign if they make a proposal? >> when you do that to me, i know you're not taking me seriously, right? >> sometimes getting really stupid offers, also not polite. >>> plus, an update on the condition of the former president george h.w. bush. he had a health scare in houston yesterday. we're going to tell you how he's doing this morning. >>> but first let's get to the news live at 5:30 here at 30 rock in new york city. this morning, president obama departs to pennsylvania where he will continue his campaign sales pitch on how to solve the country's fiscal challenges. yesterday treasury secretary tim geithner met with republicans to unveil the white house's budget proposal which includes $1.6 trillion in new tax revenue over ten years as well as $50 billion in additional stimulus spending. with limited details on spending cuts, the gop's reaction, less than encouraging. senator mitch mcconnell reportedly burst into laughter while geithner was in the middle of outlining ob
proposal to avert the fiscal cliff. >> i don't know much about the government. is that a good sign if they make a proposal? >> when you do that to me, i know you're not taking me seriously, right? >> sometimes getting really stupid offers, also not polite. >>> plus, an update on the condition of the former president george h.w. bush. he had a health scare in houston yesterday. we're going to tell you how he's doing this morning. >>> but first let's get to the...
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>> reporter: scott, the white house does not deny opening fiscal cliff proposals ignore persistent republican demands for deeper spending cuts than the president has already proposed. that's the point. no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough members of con willing to do that as well. we can solve these problems. but where the clock is really ticking right now is on middle- class taxes. >> reporter: but the clock isng. the cold political reality is this: mr. obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 votes. tax increases that cannot pass ase sena
>> reporter: scott, the white house does not deny opening fiscal cliff proposals ignore persistent republican demands for deeper spending cuts than the president has already proposed. that's the point. no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >>...
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in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for having me. martha: so you put your number out there, you know, all kinds of response across the board this morning saying that it is, you know, equally laughable, ridiculous. there's no way that the white house is going to counter that offer. what do you think about that? >> well, i think that's sad, because think about what this president said when he campaigned. he said he wanted a balanced approach. he said he wanted 800 billion in revenue a
in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the...
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jersey shore meets fiscal cliff. chris christie was at the white house and on capitol hill today asking for more federal funding for the storm ravaged state. a republican is asking for more money from washington, as republicans slam the president for additional spending is, well, perhaps problematic. democratic senator chuck schumer whose own home state of new york was hard-hit pointed out the irony of christie's request today saying it doesn't come at an opportune time of the fiscal cliff, both the talks and the fact we're short on money. will it hurt his party or not? roland martin joins me. good to see both of you. ryan, you spoke very early on about how well you thought chris christie handled this sform politically and ever other way, but now he asks for fungd as republicans try to cut spending. is he hurting his own party? >> whether you're a republican or democratic governor you want to secure money from federal taxpayers. that's a classic move. it sure is. is it undermining republicans in congress? it probably
jersey shore meets fiscal cliff. chris christie was at the white house and on capitol hill today asking for more federal funding for the storm ravaged state. a republican is asking for more money from washington, as republicans slam the president for additional spending is, well, perhaps problematic. democratic senator chuck schumer whose own home state of new york was hard-hit pointed out the irony of christie's request today saying it doesn't come at an opportune time of the fiscal cliff,...
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treasury secretary's geithner's presentation of the white house's proposal to avoid the fiscal cliff falls in line with that. the headline is $1.6 trillion in new taxes multi-year stimulus package starting with at least $50 billion in 2013 alone and the white house also wants the ability to raise the debt limit permanently unless two-thirds of congress vote against it. something also attached, about $400 billion in spending cuts not enough for republicans. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> the white house says they are willing to do tough things to compromise, so now it's time for republicans in washington to ask the wealthiest americans to pay higher tax rates. >> asking for a political price be paid in order for congress to do its job to insure that the united states of america pays its bills and does not default for the first time in its history is deeply irres
treasury secretary's geithner's presentation of the white house's proposal to avoid the fiscal cliff falls in line with that. the headline is $1.6 trillion in new taxes multi-year stimulus package starting with at least $50 billion in 2013 alone and the white house also wants the ability to raise the debt limit permanently unless two-thirds of congress vote against it. something also attached, about $400 billion in spending cuts not enough for republicans. >> i'm disappointed in where we...
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. >> the latest on the fiscal cliff talks. competing plans from the white house and republicans was little talk of compromise. if the white house plans raises taxes on any and come over to london and $50,000 with 350 billion in cuts to medicare and 200 billion in new stimulus and and fracture spending. the republican counter offer has deeper cuts to a medicare and reduces the social security cost of living increase. but it has no tax increases. it raises revenue through closing tax loopholes and this deductions. raising 800 billion over 10 years. does have a what the president is proposing.hite house he immediately rejected the republicans' proposal. the president is saying that he will not accept a proposal without a tax increase for the wealthier americans. it is 27 days until the fiscal cliff. >> u.s. officials say that the white house and its allies are weighing military options to secure serious chemical and biological weapons. this comes after u.s. intelligence reports show that the syrian regimen may be ready and those
. >> the latest on the fiscal cliff talks. competing plans from the white house and republicans was little talk of compromise. if the white house plans raises taxes on any and come over to london and $50,000 with 350 billion in cuts to medicare and 200 billion in new stimulus and and fracture spending. the republican counter offer has deeper cuts to a medicare and reduces the social security cost of living increase. but it has no tax increases. it raises revenue through closing tax...
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that is of the white house is leveling the republican counteroffer to avert the fiscal cliff. president obama try this and saying there is no deal without tax hikes on the ridge. with more on this, republican congresswoman dianne black of tennessee. welcome to the show. great to have you. i have to ask you about this story that has been breaking this afternoon. apparently the president will meet with what they're calling progressive talk-show hosts. i think this is a lot of talent. it will parade through the white house. the president will sit down with them. are you getting the sense here that maybe the president is meeting with a few too many people? should we jjst get the job on the fiscal cliff? >> i could not agree more. i felt very discouraged. the president this been more time campaigning that he did of the beginning of his campaign. we need to have serious negotiations. we need our leaders, and the president was elected by the people. he needs to sit down now and the leader along with our leader, the speaker, and talk seriously about these plans. gerri: small busin
that is of the white house is leveling the republican counteroffer to avert the fiscal cliff. president obama try this and saying there is no deal without tax hikes on the ridge. with more on this, republican congresswoman dianne black of tennessee. welcome to the show. great to have you. i have to ask you about this story that has been breaking this afternoon. apparently the president will meet with what they're calling progressive talk-show hosts. i think this is a lot of talent. it will...
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i thought of slick willie today as i was listening to the reporting of the fiscal cliff. the president's point man saying of the weekend shows, higher taxes must be a part of any resolution with republicans, presumably the white house teams thinks the wealthy are where the money is. i have some news for him. that strategymay just not work. consider britain. after the government announced a plan to levy a 50 percent income tax on people earning a million pounds or more big nber of people in tt category shrunk. check out these numbers. the number of millionai tax filers in 2009. by the time, te tomb of the law went into affect it fell. the government had been its @%pes on raising two and a half billion pounds in new revenue but the law of unintended consequences to cold. suddenly and inexplicably there were 60 percent fewer millionairess. british million has contributed 13 and a half billion pounds or 9 percent of all the governme and come before the hike. fast forward. millionaire taxes raised six and a half billion pounds or less. for a half percent after the hike. that i
i thought of slick willie today as i was listening to the reporting of the fiscal cliff. the president's point man saying of the weekend shows, higher taxes must be a part of any resolution with republicans, presumably the white house teams thinks the wealthy are where the money is. i have some news for him. that strategymay just not work. consider britain. after the government announced a plan to levy a 50 percent income tax on people earning a million pounds or more big nber of people in tt...
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fiscal cliff. they complain that the white house has not provided them on how the president will curb medicaid and medicare. if the president has been consistent and that he does not want the tax to go for people who are under too much as $50. he is adamant that any new tax revenue must come from--he once rates lowered and was is that and find a middle ground. >> in bay area a news they have released the names of two girls were shot and killed over the weekend in oakland. a 16 year-old girl and a another 15 year-old were found shot to death about 6:00 in the morning in east oakland. they have been hit by multiple gunshot loans. if they stated that they do not have a modem and they do not know why these girls were on the street along. no arrests have been made. >> oakland police are asking for your help. there is a 16 year-old girl walked away from a group home on coolidge ave. if the staff followed her but then they lost sight of her. she is considered at risk because even though she is set at 16 y
fiscal cliff. they complain that the white house has not provided them on how the president will curb medicaid and medicare. if the president has been consistent and that he does not want the tax to go for people who are under too much as $50. he is adamant that any new tax revenue must come from--he once rates lowered and was is that and find a middle ground. >> in bay area a news they have released the names of two girls were shot and killed over the weekend in oakland. a 16 year-old...
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legislative days before going off a cliff. >> the political theater over the fiscal cliff. >> mr. obama sends his chief negotiator. >> treasury secretary tim geithner. >> who was on capitol hill right now. >> reaching out to capitol hill. >> the push is on to get a deal. >> no substantive progress has been made in the talks. >> literally no progress. >> bad news, bad news, bad news. >> this is the moment of posturing. >> a lot of posturing. >> until we hear good news. >> the framework of the deal is beginning to emerge. >> i'll do whatever it takes to get this done. >> we have a debt crisis. >> i'll do anywhere and do whatever it takes. >> all eyes on the white house. >> they're going to get right up to cliff on new year's eve. we're all going to be hugging cliff. >> it's like when a fish show starts. the crowd -- >> i hope nobody catches that reference. >> all eyes on the white house. >> together again. >> what's his name? >> table for two. >> don't help me, don't help me. >> mr. romney goes to washington. >> mitt romney makes his way to the white house. >> the political power lu
legislative days before going off a cliff. >> the political theater over the fiscal cliff. >> mr. obama sends his chief negotiator. >> treasury secretary tim geithner. >> who was on capitol hill right now. >> reaching out to capitol hill. >> the push is on to get a deal. >> no substantive progress has been made in the talks. >> literally no progress. >> bad news, bad news, bad news. >> this is the moment of posturing. >> a lot of...
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host: up next on the proposal that was offered by the white house on the fiscal cliff. this is jon. independent line. hello. caller: hello. first of all, happy holidays. not sure. happy holidays, anyway. second of all, you people are journalists. you people are true journalists. i watch every day of the week. and one more thing, that fool that called yesterday, must be a product of inbreeding the way -- i don't know how they let him in. host: before we go back to yesterday, what do you think of the proposal today? >> caller: well, you don't know what they do behind closed doors. what they put out to the public is one thing and from both parties. they both have a little spin here and there. politicians to me, ha, i could tell you a story that happened when i was a kid in the 1950's. i'm originally from new york and some woman asked a politics who was running, why should i vote for you? and he said outright, because time biggest crook in this neighborhood and that guy was always voted in all the time because he was honest. we don't know what goes on behind closed doors. people are get
host: up next on the proposal that was offered by the white house on the fiscal cliff. this is jon. independent line. hello. caller: hello. first of all, happy holidays. not sure. happy holidays, anyway. second of all, you people are journalists. you people are true journalists. i watch every day of the week. and one more thing, that fool that called yesterday, must be a product of inbreeding the way -- i don't know how they let him in. host: before we go back to yesterday, what do you think of...
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tonight, and look at the white house and congress and how they are addressing the so-called fiscal cliff. first, president obama speaks in pennsylvania, followed by john boehner responded to the president from capitol hill. then eric cantor response of the lighthouse deficit reduction package. later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than two and a $50,000. ed -- more than $250,000. ["hail to the chief" plays] please have a seat. have a seat. relax for a second. it is good to see all of you. hello. it is good to be back in pennsylvania. it is good to be right here. i want to thank michael, robert, and the investor, joel glickman for hosting me today and giving me a great tour. stand up so everybody can see you, guys. [cheers and applause] there you go. we have a couple of outstanding members of congress here. [cheers and applause] now, i just finished getting a tour of the workshop. i have to say it makes me wish that joel invented t
tonight, and look at the white house and congress and how they are addressing the so-called fiscal cliff. first, president obama speaks in pennsylvania, followed by john boehner responded to the president from capitol hill. then eric cantor response of the lighthouse deficit reduction package. later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than...
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>> the white house has proposed extending them and it is opening day in terms of the fiscal cliff, their opening bid, they proposed extending basically a whole batch of them. they have just like everyone else, when we do tax reform we really need to get rid of some of these. >> host: you are a tax writer with see q roll-call, we have been talking about tax extender issues, and their role in the fiscal cliff negotiations. >> for video of other events we have covered about the fiscal cliff, see our special web page. there's also a live twitter stream with comments from the ridge and reporters and a resource area with related documents and links. c-span.org/fiscal cliff. >> an update from capitol hill reporter on the latest in the senate on president obama's proposal on the fiscal cliff and the debt ceiling. this is about five minutes. >> andrew taylor covers congress for the associated press. there were some attempts by mitch mcconnell to get roll-call votes on the president's debt plan and his fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying t
>> the white house has proposed extending them and it is opening day in terms of the fiscal cliff, their opening bid, they proposed extending basically a whole batch of them. they have just like everyone else, when we do tax reform we really need to get rid of some of these. >> host: you are a tax writer with see q roll-call, we have been talking about tax extender issues, and their role in the fiscal cliff negotiations. >> for video of other events we have covered about the...
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cliff. >> as part of our series looking into the so-called fiscal cliff, we turn to deductions and tax loopholes. some are potentially on the chopping block as congress and the white house negotiate how to move forward. joining us is john mccain, thank you for being here this morning. what are loopholes and deductions? we hear those words a lot. >> loopholes are really in the eye of the beholder, tax breaks of all different sorts. and whether you like a particular loophole depends on where you said. deductions are the ones most people are most familiar with. the big itemized deductions are the home mortgage interest deduction. the deduction for charitable contributions is important. there are all kinds of other breaks. there are some that are big that people may not be aware of. the health care that we get a work represents a big source of income to a lot of people. it doesn't count as income on your taxes. that is a giant break in itself and known as an exemption. there are other breaks that exist. the earned income tax credit goes to the working poor. then folks with children get a c
cliff. >> as part of our series looking into the so-called fiscal cliff, we turn to deductions and tax loopholes. some are potentially on the chopping block as congress and the white house negotiate how to move forward. joining us is john mccain, thank you for being here this morning. what are loopholes and deductions? we hear those words a lot. >> loopholes are really in the eye of the beholder, tax breaks of all different sorts. and whether you like a particular loophole depends...
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." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy of this country. it won't pass. >> the gop proposal calls for $600 billion in entitlement reform, including raising the medicare age. it brings $200 billion from social security, adjusting the inflation rate and raises $800 billion in new tax revenue by reforming the tax cut and closing loopholes. the plan rejects specifically raising tax rates, but it is significant that john boehner has gotten his entire leadership team, including congressman eric cantor, kevin mccarthy and even former vice presidential nominee and budget hawk paul ryan to publicly sign their names to a plan that through c
." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy...
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the white house rejected a gop counterproposal yesterday on the fiscal cliff. we don't know what's going on behind the scenes, hopefully something at this point, at least we know where the two, you know, polar areas are. >>> oracle is accelerating its 2013 dividends payments. kind of interesting. it's going to pay its fiscal second, third, and fourth quarter dividends before the end of the year. the latest company to accelerate dividend payments to avoid higher dividend rates next year. >>> and sprint is reportedly unlikely to make a counteroffer for metropcs. reuters said sprint will concentrate on closing its deal to sell up to 70% of itself to soft bank. sprint pcs has agreed to a takeover. >>> we've got more of our exclusive interview with brian moynihan. we also discussed the state of financials and the upcoming fed stress test. the banks have to turn in their capital plans to the fed by january 7th so i asked moynihan about the bank's dividend plan. >> we let everybody know and i think there's -- look work we fared well last year and i assume we'll farewe
the white house rejected a gop counterproposal yesterday on the fiscal cliff. we don't know what's going on behind the scenes, hopefully something at this point, at least we know where the two, you know, polar areas are. >>> oracle is accelerating its 2013 dividends payments. kind of interesting. it's going to pay its fiscal second, third, and fourth quarter dividends before the end of the year. the latest company to accelerate dividend payments to avoid higher dividend rates next...
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going over the fiscal cliff is serious business. i am here seriously trying to resolve it and i would hope the white house would get serious as well. >> based on the meeting with secretary geithner or your phone call with president obama 09 -- obama side, can you tell us something about that phone call? >> we had a very nice conversation last night. it was direct and straightforward. but the assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as far as a down payment to get to a long-range solution on entitlements? >> there are a lot of options on the table, including that one. >> you are acknowledging that there will. >> the day after the election, i came here and i made it clear that republicans would put revenue on the table as a way to begin to move the process to get this resolved. >> right, so my question is what message do you have for people who are in the negotiating position or believe that it is inevitable that you have to
going over the fiscal cliff is serious business. i am here seriously trying to resolve it and i would hope the white house would get serious as well. >> based on the meeting with secretary geithner or your phone call with president obama 09 -- obama side, can you tell us something about that phone call? >> we had a very nice conversation last night. it was direct and straightforward. but the assessment i give you today would be a product of both of those conversations. >> how...
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house to avoid a fiscal cliff. cnbc's becky quick is here. what has more impact? the weekly jobless claims which have some sandy issues involved or the fiscal cliff talks? >> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead story -- one of the top stories on the front page of the "wall street journal" suggesting the president is flexible on the tax hikes, that sounds like a deal might get done. you see a gain of 50 or 60 points. gdp up 2.7% from 2%. there was concerning things when you dig into the numbers, it's all fiscal cliff all the time here, chuck. >> oh, hopefully, as you guys sa
house to avoid a fiscal cliff. cnbc's becky quick is here. what has more impact? the weekly jobless claims which have some sandy issues involved or the fiscal cliff talks? >> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's...
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>> steve: north lawn of the white house, not a fiscal cliff, just a scary slope. >> brian: yes. >> gretchen: let's bring in michelle malkin. she's out in colorado where there is a lot of slippery slopes. usually people are just skiing down those. >> steve: we're falling down this one. >> gretchen: how do you react to what wendell goler said, the phone call between the president and boehner and the president laying down the gauntlet saying, unless you talk debt ceiling and raising taxes, i'm not going to actually come to the table anymore. how come he's not talking about what many americans deem to be the real problem, which is enormous spending? >> yeah. well, that's never been on the table for this president. so that certainly isn't any surprise. and the idea of this power grab, of course, is in keeping with this imperial presidency. it's not just a power grab, it's two-fisted power grab choke hold, give may wrestling move, brian, for what this is. and i'm glad -- >> brian: cross face. >> yeah. whatever. pile driver, i don't know. just something really obnoxious and of course, over the top
>> steve: north lawn of the white house, not a fiscal cliff, just a scary slope. >> brian: yes. >> gretchen: let's bring in michelle malkin. she's out in colorado where there is a lot of slippery slopes. usually people are just skiing down those. >> steve: we're falling down this one. >> gretchen: how do you react to what wendell goler said, the phone call between the president and boehner and the president laying down the gauntlet saying, unless you talk debt...
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in congress if you go over the fiscal cliff. how long can you have that hard line on those making 250 and above. >> america faces a very serious problem and our goal is to make sure it gets solved. we have a debt problem that is out of control. we have got to cut spending and i believe it is appropriate to put revenues on the table. the receive news we are putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more -- more of their money to the federal government without raising the tax rates which we believe will harm our economy. [inaudible question] >> i think our members understand the seriousness of the situation that our country faces. trillion dollar deficits for as far as the eye can see. $16 trillion of debt on the books. every man, woman and child owing the american government $50,000 and that number is increasing every single year. as a result, our members understand that we've got to solve the problem, and we will. >> the hous
in congress if you go over the fiscal cliff. how long can you have that hard line on those making 250 and above. >> america faces a very serious problem and our goal is to make sure it gets solved. we have a debt problem that is out of control. we have got to cut spending and i believe it is appropriate to put revenues on the table. the receive news we are putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the...
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he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return there surely over the next couple hours. let's talk about some renewed private sector pushing to really slash the federal budget. a group called citizens against government waste is calling for nearly $2 trillion in cuts the next five years. doug mckelway is live with the story. doug, how realistic is that goal? >> reporter: how realistic is the goal? not realistic at all. let's be honest about this. at least it is a benchmark we can strive for. citizens against government waste went through the federal budget, they identified $392 billion in cuts. $1.8 trillion in cuts over next five years. which totals 11% of the federal budget, none which touches the most c
he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return there surely over the next couple hours. let's talk about some renewed private sector pushing to...